Michigan Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

Need money to buy a Subway Sandwich Shop franchise? Northwestern Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Traverse City, Michigan needed money to invest in a Subway Sandwich Shop franchise back in 2007. Northwestern Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

NICHOLS FAMILY LLC
TRAVERSE CITY, MI 49686

SBA Loan Lender

NORTHWESTERN BANK
625 S GARFIELD
TRAVERSE CITY, MI 49686

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/11/2007

Loan Approval Gross Amount

$79,900

Loan Approval from the SBA

Of the total $79,900 loan amount, the SBA guaranteed $39,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Subway

The Friends and Family Network

Best Banks for Small Business in Traverse City, Michigan

Michigan SBA 7A Lenders